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...In December it agreed a $13bn acquisition of US broker NFP, expanding the business it does with mid-sized companies....
...The syndicate will look to write business across multiple insurance and reinsurance lines, including political violence, marine, aviation and property catastrophe....
...The chief executive of Lemonade has criticised “naysayers” that predicted the lossmaking insurance start-up would go out of business after it reported a small rise in its cash and investments in the second...
...The insurer is due to underwrite about £2bn of business within Lloyd’s this year and then grow that as a central part of owner Mitsui’s five-year strategy to reach £3bn within Lloyd’s and the so-called company...
...The company says it still has “reinsurance relationships with some non-Russian entities”. The company is part owned by the Italian insurer Generali, but its stake has been “frozen” since the invasion....
...According to the business department, taxpayers could be liable for £2mn in redundancy payments that were paid to staff of Greensill Capital’s management company by the National Insurance Fund....
...This year, the company will write around £2bn of business within Lloyd’s itself....
...Many UK businesses with large pension schemes have offloaded them to life insurance companies....
...In March, the boss of Admiral said the sector was in a “different situation” and that the FTSE 100 company had even put through a “small price decrease” recently to win business....
...Microsoft, which owns Excel, said the company remained a “key technology partner for companies across financial services broadly, and insurance specifically”....
...The state regulates home insurance premiums to protect homeowners, but in some cases that has made business unviable....
...GFG Alliance said it was “not involved in any insurance arrangements which Greensill had in place and any attempt to link us to the Greensill insurance is misplaced.”...
...This was offset by a positive contribution from other business lines, such as home insurance and motor rescue....
...Read more on the plans to upgrade the US-Japan security alliance....
...This month’s £242mn purchase of the Probitas syndicate will allow it to tap into what it said were the many brokers that prefer to place business via the Lloyd’s market....
...Its life insurance peers are closer to parity. One investor concern is the capital-hungry nature of bulk annuity business....
...Admiral had even put through a “small price decrease” in the past few months as it sought to win more business....
...Its existing UK operation is the sixth largest in car and home insurance, according to the company....
...On Monday, the company announced it was buying Lloyd’s insurer Probitas for £242mn....
...Speaking to the Financial Times, David Howden, founder and chief executive of insurance and reinsurance broker Howden, predicted the price of business cover would flatten this year as the supply of insurance...
...& officers insurance, where prices have come off....
...Many customers are buying weight-loss drugs outside insurance schemes as obesity is not a widely covered condition in the US....
...Instead, he said, they should focus on supporting the energy transition, by creating new types of insurance coverage that support key technologies and companies involved....
...out for business interruption to a busy eastern US port....
...“The big question is, can the PE firms be a trusted owner of a life insurance company?” said Isabelle Santenac, global insurance leader at consultancy EY....
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